Arrow Electronics ARW recently unveiled its first professional services automation (PSA) certified platform for Internet of Things (IoT) developers. The platform – PSoC (programmable system on a chip) 64 IoT Security Workshop Development Kit – will simplify and accelerate the development of secure IoT devices meeting the accepted cyber-protection standards.

Kit Will Accelerate IoT Projects

Created in conjunction with Infineon Technologies, the development kit is aligned with the accepted industry and government standards and regulations for electronic security, thereby helping the original equipment manufacturers (OEMs) ensure compliance with the emerging IoT legislation.

Arrow’s newly launched PSA certified kit includes Arrow PSoC 6 IoT Sensor Shield, Infineon PSoC 64 Secure AWS IoT Pioneer Kit and Shield2Go kits. The kit is operational on Amazon’s AMZN Amazon Web Services (“AWS”) cloud and comes with certified functional application programming interfaces (APIs) and an integrated dashboard for monitoring and visualization.

Built with a sensor-to-cloud security feature, the development kit is a pre-tested and validated reference design that will ensure the end-to-end security of IoT devices. Apart from simplifying the programming, deployment and management of IoT devices, the platform eases secure connectivity to Amazon’s AWS cloud services for an edge.

The kit helps OEMs quickly start their IoT projects.

Arrow Electronics, Inc. Price and Consensus

Arrow Electronics, Inc. price-consensus-chart | Arrow Electronics, Inc. Quote

Huge Opportunity in IoT Space

The latest product launch will broaden Arrow’s capabilities in the ever-growing IoT space. Given the rising number of connected products in our everyday lives, IoT is poised to grow strongly.

Per a recent report by Mordor Intelligence, the IoT market is expected to reach approximately $1.39 trillion in 2026 from $761.4 billion in 2020, representing a CAGR of 10.5%. The recently introduced PSA certified development kit provides Arrow with some key capabilities to cater to this huge opportunity.

Zacks Rank & Other Stocks to Consider

Arrow currently carries a Zacks Rank #2 (Buy), while Amazon has a Zacks Rank #5 (Strong Sell). The long-term estimated earnings growth rate for Arrow and Amazon is currently pegged at 27.4% and 22.9%, respectively.

Some better-ranked stocks from the broader technology sector include Google-parent Alphabet GOOGL and Diodes DIOD, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Alphabet’s fourth-quarter 2021 earnings has been revised upward by $1.87 to $26.72 per share over the past 30 days. For 2021, earnings estimates have been moved upward by $5.99 to $107.86 per share in the last 30 days.

Alphabet’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 41.5%. The GOOGL stock has rallied 66.9% in the year-to-date (YTD) period.

The Zacks Consensus Estimate for Diodes’ fourth-quarter 2021 earnings has been revised upward by 23.9% to $1.45 per share over the past 30 days. For 2021, earnings estimates have been moved upward by 6.3% to $5.06 per share over the last 30 days.

Diodes’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10%. Shares of Diodes have rallied 53.6% YTD.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: Nasdaq

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